Subject: File No. 4-606
From: Barry Delp
Affiliation: NAIFA

August 10, 2010

The current suitability standard has created frequent FINRA and broker-dealer audits and compliance procedures that seek to protect the public. There is no need to further burden the industry by compounding regulation. There are enough rules in place to punish the bad guys. Lift the burden that the new fiduciary standards would create for those that are trying to work in the industry. The added cost of more compliance and regulation means the client receives less at a time when they really need more.